Regions Financial (NYSE:RF) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded Regions Financial from “sell” to “hold,” aligning with the broader analyst consensus. The stock has an average “hold” rating and a consensus price target of $32.29.
• Regions Financial reported quarterly earnings of $0.68 per share, exceeding analysts’ $0.63 estimate, while revenue of $1.95 billion slightly surpassed expectations.
• Institutional investors own 79.39% of the company, with several hedge funds recently increasing their positions or initiating new stakes.

Regions Financial (NYSE:RF - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the company. DA Davidson raised their price objective on Regions Financial from $33.00 to $34.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Morgan Stanley upped their target price on Regions Financial from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 8th. Robert W. Baird raised Regions Financial from an "underperform" rating to a "neutral" rating and set a $28.00 price target for the company in a research report on Friday. UBS Group raised their price target on Regions Financial from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Tuesday, July 7th. Finally, Stephens began coverage on Regions Financial in a research report on Monday, June 15th. They set an "equal weight" rating and a $31.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Regions Financial currently has an average rating of "Hold" and a consensus price target of $32.29.

Regions Financial Price Performance

Shares of RF opened at $28.50 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial has a twelve month low of $22.70 and a twelve month high of $32.47. The stock has a market capitalization of $24.28 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.16 and a beta of 0.99. The company has a 50 day moving average of $30.72 and a 200-day moving average of $28.82.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The firm's revenue for the quarter was up .1% on a year-over-year basis. As a group, equities research analysts forecast that Regions Financial will post 2.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Regions Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of RF. Russell Investments Group Ltd. lifted its position in shares of Regions Financial by 8.5% during the second quarter. Russell Investments Group Ltd. now owns 2,107,015 shares of the bank's stock valued at $63,645,000 after purchasing an additional 165,527 shares in the last quarter. Bank of America Corp DE bought a new stake in Regions Financial in the 2nd quarter worth about $219,068,000. Royal Palms Capital LLC bought a new stake in Regions Financial in the 4th quarter worth about $4,137,000. Waterloo Capital L.P. increased its stake in Regions Financial by 123.7% in the 4th quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank's stock valued at $3,683,000 after buying an additional 75,149 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in Regions Financial by 29.0% in the 4th quarter. ProShare Advisors LLC now owns 242,692 shares of the bank's stock valued at $6,577,000 after buying an additional 54,567 shares during the last quarter. Institutional investors own 79.39% of the company's stock.

Regions Financial Company Profile

Regions Financial Corporation NYSE: RF is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumer, commercial and institutional customers.

Regions Bank offers checking and savings accounts, consumer loans, credit cards, mortgages, home equity products and other personal banking services. Its commercial and corporate offerings include business loans, treasury management, equipment financing, capital markets services and other solutions for companies, municipalities and institutions.

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